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in the long run there be more farmers more labour , capital and land avalible to incress the production. as soon as governments relize the sortage governments will alocate extra money into farming and allow subsidizing which will incress production.
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∙ 12y ago
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How does the time frame over which a supply decision is made influence the elasticity of supply?
with the age the elasticity of the body and even the vessels and artries also reduces whihch ultimatly create aproblem to the supply as its capacity of uptake of blood is reduces
What is the difference that exists between arc elasticity of demand and point elasticity of demand?
Arch elasticity demand is the percentage change in one variable divided by the percentage change in another variable, it calculates the elasticity over a range of values, while point elasticity of demand uses differential calculus to determine the elasticity at a specific point
Does price elasticity of supply decrease the longer time period?
Yes, because over time, demand decreases.
What are four factors that affect elasticity?
Availability of Substitutes Relative Importance Necessities vs. Luxuries Change Over Time
Explain the difference between elasticity of demand and the slope of a demand curve?
The demand curve is drawn with price on the vertical axis and quantity demanded on the horizontal axis. Mathematically, the slope of a curve is represented by rise over run, or the change in the variable on the vertical axis divided by the change in the variable on the horizontal axis. Therefore, the slope of the demand curve represents change in price divided by change in quantity. Elasticity, on the other hand, aims to quantify the responsiveness of demand and supply to changes in price, income, or other determinants of demand.
How does the time frame over which a supply decision is made influence the elasticity of supply?
with the age the elasticity of the body and even the vessels and artries also reduces whihch ultimatly create aproblem to the supply as its capacity of uptake of blood is reduces
What is the difference that exists between arc elasticity of demand and point elasticity of demand?
Arch elasticity demand is the percentage change in one variable divided by the percentage change in another variable, it calculates the elasticity over a range of values, while point elasticity of demand uses differential calculus to determine the elasticity at a specific point
Does price elasticity of supply decrease the longer time period?
Yes, because over time, demand decreases.
How does a change over switch works?
When the supply from GEB is cut away, at that time the consumer is required to change over from the main supply to the private generator, so that he cut the supply from mains and switches to Generator with a change over switch.
What are four factors that affect elasticity?
Availability of Substitutes Relative Importance Necessities vs. Luxuries Change Over Time
Explain the difference between elasticity of demand and the slope of a demand curve?
The demand curve is drawn with price on the vertical axis and quantity demanded on the horizontal axis. Mathematically, the slope of a curve is represented by rise over run, or the change in the variable on the vertical axis divided by the change in the variable on the horizontal axis. Therefore, the slope of the demand curve represents change in price divided by change in quantity. Elasticity, on the other hand, aims to quantify the responsiveness of demand and supply to changes in price, income, or other determinants of demand.
What is it called when arteries become thick and lose elasticity?
Over the course of time, the arterial walls are apt to lose elasticity, which limits the amount of blood that can surge through them and hence limits the supply of oxygen to the heart. This condition is known as arteriosclerosis.
Why are both the price elasticity of demand and the price elasticity of supply likely to be greater in the long run?
In the long run, manufacturers and producers can respond to consumer demand by analyzing trends that develop over time. Short-term, this is less practical because adjustments often cannot be made quickly enough to accommodate changes.
How does substitutes affect elasticity?
Because elasticity means when the demand is changing. a subsitute consumer in choice of theory. the substiture affects elasticity is it changes over time. substitute is choice and elasticity is demand. put those together and you have a fair deal with your money.
How substitutes affect elasticity?
Because elasticity means when the demand is changing. a subsitute consumer in choice of theory. the substiture affects elasticity is it changes over time. substitute is choice and elasticity is demand. put those together and you have a fair deal with your money.
Why is supply inelastic in the short run?
equilibreamAnswerWheat grows according to harvest cycles. So in the short run, you only have as much wheat as was planted and harvested for a given year.If you forecast that you are going to need more wheat over, say, the next 5 years, you can plan to devote more land to growing wheat, buy more fertilizer, invest in more labor hours, etc. But once the wheat is in the ground and growing for a particular year, there is only a limited amount you can do to improve supply for that particular year.
What are the factors affecting the price elasticity of supply?
Many factors influence elasticity, some of which include:Necessities versus Luxuries - It is harder to find substitutes for necessities so quantity demanded will change less.Availability of Close Substitutes - If there are close substitutes, buyers will move away from more expensive items and demand will be elastic.Definition of the Market - The more broadly we define an item, the more possible substitutes and the more elastic the demand.Time Horizon - The longer the time available, the easier to find substitutes and the more elastic the demand.Relative Size of Purchase - Purchases which are a very small portion of total expenditure tend to be more inelastic, because consumers are not worried about the extra expenditure.
